Long Play Updates
Boyd Gaming - BYD - cls: 42.69 chg: -0.38 stop: 39.49
BYD displayed some strength this morning but the stock couldn't get past the $44.00 level. Shares now look poised to retest the $42.00 region soon. Readers may want to consider a tighter stop loss in the $40.50-41.00 zone. We're not suggesting new positions. Our target is the $44.90-46.00 range.
Picked on September 04 at $41.55
Coach Inc. - COH - cls: 50.07 change: +2.24 stop: 44.99*new*
Was today a delayed reaction to yesterday's fed news? We don't think so but the way COH moved today it was definitely reacting to something. The stock gapped open higher at $48.70, which is a new relative high, and quickly spiked to $50.95 before parings gains and settling with a 4.7% move. Volume was above average, which is bullish. Our suggested trigger to buy the stock was at $48.31 so we would have been filled at the open at $48.70. Do not be surprised if COH retests the $48.00 level as support. We're inching up our stop loss to $44.99. More conservative traders might want to consider a stop loss near $46. Our target is the $51.85-52.00 range. More aggressive traders could aim for the April highs near $54.00. The P&F chart points to a $63 target. We do not want to hold over the late October earnings report.
Picked on September 19 at $48.70 *gap higher
Coldwater Creek - CWTR - cls: 12.45 change: +0.41 stop: 10.99
CWTR turned in a nice rebound today with its 3.4% gain but shares are still struggling with resistance near $12.60. The intraday high was $12.59. Overall this still looks like a bottom forming over the past couple of weeks but we haven't forgotten the stock's relative weakness on Tuesday (yesterday). More conservative traders might want to use a tighter stop loss. We have two targets. Our first target is the bottom of the gap down in the $13.90-14.00 range. Our second target is the $14.90-15.00 range.
Picked on September 16 at $12.50
Global Ind. - GLBL - cls: 25.00 chg: -0.14 stop: 23.49
We are surprised that GLBL can't seem to get any traction in its rally especially since the oil services index broke out on Tuesday and hit a new high today. Readers may want to consider a tighter stop loss. Our target is the $28.00-29.00 range.
Picked on September 06 at $24.65
Gamestop - GME - close: 53.41 chg: +1.20 stop: 49.35
The momentum in GME continues. The stock added another 2.29% and another new high. Enthusiasm is building for Microsoft's upcoming Halo3 launch next week. We see today's move in GME as another entry point to buy the stock. Our target is the $57.00-60.00 range.
Picked on September 17 at $52.10
Wyndham Worldwide - WYN - cls: 31.95 change: +1.11 stop: 29.90
WYN spiked higher this morning and broke through resistance at the $32.00 level on an intraday basis. The high was $32.38. Our suggested trigger to buy the stock was at $32.15 so the play is now open. However, WYN failed to hold the breakout over $32.00 and shares are facing technical resistance at the 50-dma. We suggest a little patience here. WYN might offer us another dip near $31.00, which could be used as another entry point - or readers could look for a move over the 50-dma near $32.50. Our target is the $33.90-35.70 range.
Picked on September 19 at $32.15
Short Play Updates
Jackson Hewitt - JTX - cls: 27.03 chg: +0.03 stop: 28.05
JTX didn't see much follow through today. Shares hit $27.41 and then gave almost all of its gains back. Technically today was a breakout over its 10-dma by a whole four cents. We are not suggesting new positions at this time but we will be watching for a failed rally. Our target is the $22.50-22.00 range. FYI: The latest data puts short interest at more than 12% of the 30 million-share float. That's a relatively high degree of short interest and does raise the risk of a short squeeze.
Picked on September 13 at $25.85
Closed Long Plays
Closed Short Plays